…As petrol is projected to cost N403 per litre
The Nigerian Labour Congress (NLC) has vowed that git will not rescind its decision to call out Nigerian workers on January 27 over the Federal Government’s decision to stop paying fuel subsidy by June.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had announced last year that the government would no longer bear the subsidy burden.
But reacting during a live Channels Television programme ‘Politics Today’’, the NLC President, Ayuba Wabba, said on Thursday that the organised Labour has made its intention known on the matter.
According to him, there is no justification whatsoever for the removal.
He said Nigerian workers are being mobilised for the planned rally next Thursday against the decision.
Wabba, who noted that some stakeholders were still consulting with the union, said the only thing that could make it shelve the planned protest was for the government to suspend the decision.
The NLC chief noted that before the national protest, the labour union would hold protest rallies in all the 36 states of Nigeria on January 27 against the subsidy removal.
Meanwhile, there are speculations that the rising price of crude oil may push Premium Motor Spirit (PMS) aka petrol to N403 per litre.
As at January 14, PMS pricing template was N403 per litre, making a subsidy differential of N241 on every litre sold in the country.
According to the estimate, petrol per litre is N349 from country of import but freight and landing cost push the figure to N384, while distribution margin and bridging fund in transport logistics further push the cost to N403.
The Nigeria Governors’ Forum (NGF) after a five-hour meeting on Thursday, resolved to initiate talks with the NLC and the Trade Union Congress (TUC) on the proposed removal of subsidy on petrol.